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Certainly, yes, you can have your 1120S sale purchase agreement stipulate that the proceeds are payable over a number of years. This way the gain on sale will be recognized in each year you receive proceeds.
Just ensure that the agreement states that the proceeds are payable over future years and ensure the number of years are identified.
I hope that provides the confirmation you were looking for. If not please let me know if you have any additional questions and I will get back to you as soon as I can.